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1. Coppersmiths in consideration street with a ril property of both to pay when the one half of said Coppersmiths and agree to pay to LEAD, INC. the sum of $1, 000 .00 for LEAD, INC.'s agreement to dedicate a public jht of way 60 feet in width and abutting on the said owners, which $1,000.00 Coppersmiths agree Blacktop surfacing is completed on the southerly road in accordance with the plan signed by LEAD, INC. 2. Coppersmiths and LEAD, INC. have, and do by sigring a copy of this resolution, petition the Village of Lake Elmo to install municipal water system in the south one half of said new street (in accordance with the plan of the Village Engineer and signed by Coppersmiths and LEAD, INC.) and asses the cost thereof against the property owned by Coppersmiths and LEAD, INC. as described above; said assessment to be on the basis of the benefit to said land as determined by the Village Council. 3. Coppersmiths and LEAD, INC. agree, and do by signing a copy of this resolution, petition the Village of Lake Elmo to install the new street on the right of way dedicated by LEAD, INC., which street shall be graded to the full extension thereof and surfaced with blacktopping over the southerly one half thereof at which point a turn around will be installed in accordance with the plan of the Village Engineer and signed as aforesaid. LEAD, INC. shall pay in cash or by having the same assessed against its property described above for the construction of and surfacing of said road. It is agreed by Coppersmiths and LEAD, INC. that blacktop surfacing of said road shall not be extended beyond the first half thereof unless such extension is requested by LEAD, INC. or unless the extension is made by order of the Village Council to serve property North of the above described lands. NOW, THMEWFOEE, f3E IT RESOLVED that on the condition that Coppersmiths and LEAD, INC. sign the consent and waiver of hearing endorsed on copies of this resolution, and, thereby agree to be bound by their agreement with each other as stated above andobligated to the Village of Lake Elmo as a third party beneficiary thereunder, the Village Engineer shall, upon the filing of said signed consent and waiver of hearing, proceed with plans for the construction of street on right of way to be dedicated by LEAD, INC. and plans for the extension of municipal water system along that street, and appropriate Village officers shall then proceed with the letting of bids as required by law for the construction of said improvements. Adopted by the Village Council th' 15th day of August, 1972. 0�yl� Z:: !, � Calvin J. E ookman, mayor Attest: Donaid McIiUkomer, Village Clerk